Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) (Amendment) Regulations, 2025
The Insolvency and Bankruptcy Board of India (IBBI) has issued the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) (Second Amendment) Regulations, 2025, effective from November 20, 2025. These amendments enhance compliance and reporting requirements for resolution professionals managing insolvency processes of personal guarantors to corporate debtors. Regulation 23 mandates the filing of specified Forms along with enclosures on the Board’s electronic platform within stipulated timelines. Forms must be accurate and complete, and any delay in filing, including corrections or updates, will attract a fee of ₹500 per Form per month. Resolution professionals are also liable for actions under the Code for failure to submit forms, inaccurate or incomplete information, or delayed filing, including potential refusal to issue or renew their Authorisation for Assignment. The amendment strengthens procedural accountability, ensures timely reporting, and provides IBBI with enforcement powers to maintain the integrity of personal guarantor insolvency processes.
INSOLVENCY AND BANKRUPTCY BOARD OF INDIA
NOTIFICATION
New Delhi, the 20th November, 2025
Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) (Amendment) Regulations, 2025.
F. No. IBBI/2025-26/GN/REG131.—In exercise of the powers conferred by clause (t) of sub-section (1) of section 196, section 240 read with clause (e) of section 2 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the Insolvency and Bankruptcy Board of India hereby makes the following regulations to further amend the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Regulations, 2019, namely:-
1. (1) These regulations may be called the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) (Second Amendment) Regulations, 2025.
(2) They shall come into force on the date of their publication in the Official Gazette.
2. In the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Regulations, 2019. (hereinafter referred to as ‘the principal regulations’), after regulation 22, the following shall be inserted, namely:
“Regulation 23. Filing of Forms
a. The resolution professional shall file the Forms, along with enclosures thereto, as notified by the Board through circular, as per the timelines stipulated against each Form.
b. The Board shall make available the Forms referred to in sub-regulation (1) on the electronic platform and may modify them from time to time.
c. The resolution professional shall ensure that the Forms and its enclosures filed under this regulation are accurate and complete.
d. The filing of a Form under this regulation after the due date of submission, whether by correction, updation or otherwise, shall be accompanied by a fee of five hundred rupees per Form for each calendar month of delay after the date notified by the Board.
e. The resolution professional shall be liable to any action which the Board may take as deemed fit under the Code or any regulation made thereunder, including refusal to issue or renew Authorisation for Assignment, for –
i. failure to file a Form along with requisite information and records;
ii. inaccurate or incomplete information or records filed in or along with a Form; or
iii. delay in filing the Form.”
RAVI MITAL, Chairperson
[ADVT.-III/4/Exty./487/2025-26]
Note : The Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Regulations, 2019 were published vide notification No. IBBI/2019-20/GN/REG050, dated 20th November, 2019 in the Gazette of India, Extraordinary, Part III, Section 4, No. 413 on 20th November, 2019 and were last amended by the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) (Amendment) Regulations, 2024 published vide notification No. IBBI/2025-26/GN/REG125 dated the 19th May, 2025 in the Gazette of India, Extraordinary, Part III, Section 4, No. 374 on 19th May, 2025.
